Research Assignment Flashcards 1-5

Ad Valorem Tariff

A duty calculated as a fixed percentage of the total monetary value of imported goods (e.g., 10% of $1,000 = $100).

Specific Tariff

A fixed fee charged per physical unit of a good, based on measurable criteria like weight, volume, or quantity.

Compound Tariff

A combination of both ad valorem and specific tariffs applied to a single product.

Blocked Currency

When a government refuses to allow its currency to be exchanged for the seller's currency, preventing payment for foreign goods.

Differential Exchange Rates

The government sets different exchange rates for different types of goods; favorable for essentials, unfavorable for luxuries.

Government Approval / Exchange Permits

Countries with foreign exchange shortages require importers to obtain a government permit before buying foreign currency.

Import Quotas

A specific limit on the quantity of a particular product that can be imported during a set time period.

Embargoes

A total ban on trade with a specific country or on certain goods, often for political reasons.

Standards and Regulations

Strict rules on quality, safety, and health requirements a product must meet before it can be sold in a country.

Import Licenses

Special government-issued permits a business must obtain before legally bringing certain goods into the country.

Administrative Burdens

Deliberate delays and complex paperwork or customs procedures that make importing slow and expensive.

Retaliatory Tariff

A tax placed on imports from a country as payback for that country's unfair trade practices or high tariffs; a "tit-for-tat" measure.

Restrictive Tariff

A high tax on imported goods designed to make them so expensive consumers won't buy them, protecting local businesses from foreign competition.

General Assembly (UN)

The main deliberative and policymaking body of the UN where all 193 member states have an equal voice.

Security Council (UN)

Holds primary responsibility for maintaining international peace and security, including authorizing sanctions and use of force.

Economic and Social Council (UN)

Coordinates the UN's economic, social, and environmental work, focusing on sustainable development.

International Court of Justice (UN)

The principal judicial organ of the UN, located in The Hague; settles legal disputes between states.

Secretariat (UN)

The administrative arm of the UN that carries out day-to-day work including research, translation, and managing peacekeeping operations.

ICAO (UN)

Develops standards for global air transport and assists 192 member states in sharing airspace for socio-economic benefit.

WHO (UN)

Directs and coordinates international health work and promotes global well-being.

ILO (UN)

Sets international labor standards and promotes decent work opportunities worldwide.

CISG (UN)

A legal framework providing uniform rules for contracts in the international sale of goods between private businesses.

COGSA (UN)

Establishes legal rules governing the rights and obligations of shippers, carriers, and consignees.

UNCITRAL (UN)

The core UN legal body in international trade law, focused on modernizing and harmonizing trade rules.

UN Three Purposes (UN)

(1) Maintain international peace and security; (2) develop friendly relations among nations; (3) achieve international cooperation on economic, social, cultural, and humanitarian problems.

Declining Coffee (Business Etiquette)

In the Arabian Gulf, hold the cup and twist your wrist from side to side to signal you don't want more.

Bilingual Business Cards (Business Etiquette)

Canada legally requires business cards printed in English on one side and French on the other.

Gift Giving in Japan (Business Etiquette)

Thank the giver and open the present later; opening immediately is considered impolite.

Straight-to-the-Point Meetings (Business Etiquette)

Germany; meetings are well structured and joking is considered an inappropriate use of time.

Saudi Arabia Workweek (Business Etiquette)

Sunday through Thursday.

Vietnamese Name Order (Business Etiquette)

In traditional Vietnamese order (family name first), Nguyen Tran Do would be addressed as Mr. Nguyen.

"No" Considered Rude (Business Etiquette)

In India, using the word "no" directly in a business meeting can be considered rude.

Yellow Chrysanthemums Taboo (Business Etiquette)

In Poland, never bring yellow chrysanthemums to someone's home as they are associated with funerals.

Passing Food in the Middle East (Business Etiquette)

Always use the right hand to pass and accept food.

Handshakes at End of Meeting (Business Etiquette)

In Sweden, you shake hands with everyone who attended — old, young, male, and female.

WTO Decision Making (WTO)

Decisions are made by consensus; every member must be able to live with the outcome. Voting is allowed but rare.

Trade Without Discrimination (WTO)

Members cannot favor one trading partner over another; includes Most-Favored-Nation and National Treatment rules.

Most-Favored-Nation (MFN) (WTO)

If a country grants a lower tariff to one WTO member, it must apply that same treatment to all other members immediately.

National Treatment (WTO)

Imported and locally produced goods must be treated equally once inside the market; foreign goods cannot face heavier taxes or regulations.

Freer Trade (WTO)

The progressive lowering of tariffs and non-tariff barriers through negotiation.

Predictability through Binding and Transparency (WTO)

Members promise not to raise tariffs above a set level and publish their trade rules openly.

Promoting Fair Competition (WTO)

WTO rules counter unfair practices like dumping and distortive government subsidies.

Encouraging Development (WTO)

Developing nations receive longer transition periods and technical assistance to help build trade capacity.

WTO Established (WTO)

January 1, 1995.

GATT (WTO)

The WTO's predecessor, in force from 1947–1994; primary goal was reducing tariffs and preventing protectionist policies after WWII.

Uruguay Round (WTO)

The negotiations that transitioned GATT into the WTO; launched in Punta del Este (1986) and concluded in Marrakesh, Morocco (1994).

Dumping (WTO)

Exporting a product at a price lower than the price charged in the home market; considered an unfair trade practice.

WIPO Mission (WIPO)

To lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.

WIPO Founded (WIPO)

Established by the WIPO Convention signed in Stockholm, Sweden on July 14, 1967; entered into force in 1970.

WIPO Mandate (WIPO)

To promote the protection of intellectual property worldwide through cooperation among states and international organizations.

WIPO Headquarters (WIPO)

Geneva, Switzerland.

WIPO Membership (WIPO)

194 member states.

Paris Convention (WIPO)

An early international agreement governing the protection of industrial property; one of the founding frameworks WIPO was created to manage.

Berne Convention (WIPO)

An early international agreement governing the protection of literary and artistic works; the other founding framework WIPO was created to manage.

WIPO General Assembly (WIPO)

The main governing body consisting of member states party to the WIPO Convention and members of any of the Unions.

WIPO Coordination Committee (WIPO)

Advises on administrative and financial matters and prepares the draft agenda for the General Assembly.

Customer Service Orientation (WIPO)

Increasing responsiveness to global stakeholders and ensuring customer satisfaction with services.

Working as One (WIPO)

Operating as an integrated, efficient entity that delivers value for money.

Accountability for Results (WIPO)

Taking ownership of performance and ensuring results are achieved effectively.

ESG Responsibility (WIPO)

Performing ethically and demonstrating care for staff, the community, and the environment.

WIPO Membership Criteria (WIPO)

A state must be a member of the Paris or Berne Union, OR a member of the UN or a UN specialized agency, OR be invited by the WIPO General Assembly.